ots Ad hoc-Service: i:FAO AG i:FAO: To Purchase Data Mining Software Company in California

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    Frankfurt (ots Ad hoc-Service) -      i:FAO: To Purchase Data Mining
Software Company in California

    i:FAO Aktiengesellschaft's Executive Management Board has, in agreement with the Supervisory Board, signed a binding letter of intent to acquire 100% of QuixData Systems Inc., San Ramon, California. QuixData will be merged into i:FAO of North America, Dearborn, Michigan, after the completion of the purchase. The agreement is subject to usual clauses and should be ratified shortly. The acquisition will be made using part cash and part i:FAO shares. QuixData is one of three companies world-wide to specialize in the development of data mining software for business travel management. Using the QuixData software, companies can analyze their corporate travel data pre- and post-trip, to identify savings potentials. The QuixData software is indispensably for larger corporations to enable them to steer travel procurement efficiently. i:FAO will combine the QuixData software with i:FAO's core product cytric to create a globally unique product functionality.

    The purchase of QuixData is part of i:FAO's strategy to concentrate on the development and sales of travel management systems in the business-to-business market.

    Consistent with this strategy the administration of i:FAO has decided to spin off the other two business divisions, cabana (the leading travel community with more than 30.000 members) and eHotel (Book business hotels better) in separate companies or joint ventures. i:FAO's Executive Management is currently in promising negotiations with this regard.

    The Executive Management Board


    Louis Arnitz i:FAO Aktiengesellschaft Telephone +49 (69) 1530 5500 eMail arnitz@ifao.net

    Additional information, graphics and pictures in high resolution are available in the press area of the i:FAO website at http://www.ifao.net Please also visit our new IR page or contact Alexandra Klemme, telephone +49 (175) 412-8938, eMail: klemme@ifao.net for further information.

    End of Message

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